This form seeks to comply with Indiana Code Section 25-34.1-10-13 which provides:
(a) A principal broker shall develop and enforce a written office policy that identifies and describes the agency relationships that a licensee may have with a seller, landlord, buyer, or tenant and that specifically permits or rejects the practice of disclosed limited agency.
(b) At the beginning of an agency relationship, a licensee shall disclose in writing the principal broker's written office policy set forth in this section before the disclosure by the potential seller, landlord, buyer, or tenant of any confidential information specific to that potential seller, landlord, buyer, or tenant.
(c) Parties to a real estate transaction shall be advised whether compensation will be shared with other principal brokers who may represent other parties to the transaction whose interests are different or even adverse.
(d) The payment of compensation does not create an agency relationship between a licensee and a seller, landlord, buyer, or tenant.
Fort Wayne Indiana Office Policy for Sellers — Disclosure Regarding Real Estate Agency Relationships When selling a property in Fort Wayne, Indiana, it is important for sellers to understand and comply with the local office policy regarding disclosure of real estate agency relationships. This policy aims to ensure transparency and protect the interests of both buyers and sellers involved in real estate transactions. The Fort Wayne Indiana Office Policy for Sellers — Disclosure Regarding Real Estate Agency Relationships emphasizes the importance of disclosing agency relationships to all parties involved in a real estate transaction. This disclosure helps establish clear boundaries and prevents any potential conflicts of interest. There are different types of agency relationships that sellers in Fort Wayne should be aware of: 1. Seller's Agent: A seller may choose to work exclusively with a seller's agent who represents the seller's interests throughout the transaction. The seller's agent works towards achieving the seller's goals and acts as their advocate. 2. Dual Agency: In certain situations, a real estate brokerage may represent both the seller and the buyer. This is known as dual agency. In this scenario, the brokerage must fully disclose this relationship to both parties and act in a neutral manner, providing fair and honest guidance to both the seller and the buyer. 3. Designated Agency: In some cases, a real estate brokerage may assign different agents within their office to represent the seller and the buyer separately. This is known as designated agency. Each agent works solely on behalf of their respective client and provides dedicated support and representation. It is important for sellers to fully understand the agency relationship they enter into and its implications. Fort Wayne Indiana Office Policy for Sellers — Disclosure Regarding Real Estate Agency Relationships ensures that sellers are provided with the necessary information and documentation to make an informed decision about which type of agency relationship to establish. Real estate agents in Fort Wayne are trained and licensed professionals who are well-versed in the local market conditions. They can provide valuable guidance, market analysis, and negotiate on behalf of sellers. By adhering to the Fort Wayne Indiana Office Policy for Sellers — Disclosure Regarding Real Estate Agency Relationships, sellers can have peace of mind knowing that their best interests are being represented throughout the entire sales process. It is important to review and understand this policy before entering into any real estate transaction in Fort Wayne.
